M&T Bank Corporation $MTB Position Trimmed by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI decreased its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 23.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,877 shares of the financial services provider’s stock after selling 2,444 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in M&T Bank were worth $1,628,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC grew its position in shares of M&T Bank by 9.9% during the 1st quarter. Parallel Advisors LLC now owns 3,846 shares of the financial services provider’s stock valued at $795,000 after buying an additional 345 shares during the last quarter. Bessemer Group Inc. raised its stake in M&T Bank by 19.5% during the first quarter. Bessemer Group Inc. now owns 27,500 shares of the financial services provider’s stock worth $5,685,000 after acquiring an additional 4,493 shares during the period. Ibex Wealth Advisors bought a new position in M&T Bank in the first quarter worth about $593,000. Bogart Wealth LLC lifted its holdings in M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in M&T Bank by 4.5% in the first quarter. V Square Quantitative Management LLC now owns 1,891 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 82 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares in the company, valued at approximately $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent research reports. Evercore set a $260.00 target price on M&T Bank in a report on Monday, July 6th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group upped their price objective on M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, April 6th. Piper Sandler increased their target price on M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company increased their target price on M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $251.50.

M&T Bank Stock Performance

MTB opened at $248.44 on Wednesday. The business’s 50 day moving average is $227.60 and its 200-day moving average is $219.71. The stock has a market cap of $36.38 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The company has a current ratio of 0.89, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.00.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $4.28 earnings per share. On average, analysts predict that M&T Bank Corporation will post 19.33 earnings per share for the current year.

M&T Bank declared that its board has approved a stock buyback plan on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.